Insider Selling: Joby Aviation (NYSE:JOBY) Insider Sells 27,932 Shares

Joby Aviation, Inc. (NYSE:JOBY) insider Eric Allison sold 27,932 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $7.53, for a total value of $210,327.96. Following the completion of the transaction, the insider directly owned 710,396 shares of the company’s stock, valued at $5,349,281.88. This trade represents a 3.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Eric Allison also recently made the following trade(s):

• On Thursday, July 2nd, Eric Allison sold 9,330 shares of Joby Aviation stock. The stock was sold at an average price of $8.92, for a total transaction of $83,223.60.
• On Wednesday, May 6th, Eric Allison sold 74,844 shares of Joby Aviation stock. The stock was sold at an average price of $10.00, for a total transaction of $748,440.00.

Joby Aviation Stock Up 5.5%

Shares of Joby Aviation stock traded up $0.41 during trading hours on Tuesday, hitting $7.89. The company had a trading volume of 49,000,015 shares, compared to its average volume of 30,872,689. The company has a debt-to-equity ratio of 0.36, a current ratio of 22.06 and a quick ratio of 22.05. The company’s 50-day moving average is $9.84 and its two-hundred day moving average is $10.51. The company has a market cap of $7.77 billion, a P/E ratio of -6.87 and a beta of 2.71. Joby Aviation, Inc. has a twelve month low of $7.43 and a twelve month high of $20.95.

Joby Aviation (NYSE:JOBY) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.12) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.09. Joby Aviation had a negative net margin of 1,232.62% and a negative return on equity of 60.54%. The firm had revenue of $24.25 million for the quarter, compared to analyst estimates of $20.17 million. During the same period last year, the business earned ($0.11) EPS. Analysts anticipate that Joby Aviation, Inc. will post -0.83 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Joby Aviation

Several large investors have recently modified their holdings of JOBY. GoalVest Advisory LLC grew its position in Joby Aviation by 2.1% in the 4th quarter. GoalVest Advisory LLC now owns 33,500 shares of the company’s stock valued at $442,000 after buying an additional 700 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of Joby Aviation by 2.2% in the 2nd quarter. EP Wealth Advisors LLC now owns 38,228 shares of the company’s stock worth $403,000 after acquiring an additional 821 shares during the period. Signaturefd LLC lifted its stake in shares of Joby Aviation by 8.4% in the 4th quarter. Signaturefd LLC now owns 11,218 shares of the company’s stock worth $148,000 after acquiring an additional 872 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of Joby Aviation by 38.7% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,256 shares of the company’s stock valued at $56,000 after acquiring an additional 1,188 shares in the last quarter. Finally, Strs Ohio increased its stake in shares of Joby Aviation by 2.5% during the first quarter. Strs Ohio now owns 50,000 shares of the company’s stock worth $413,000 after acquiring an additional 1,200 shares during the period. Hedge funds and other institutional investors own 52.85% of the company’s stock.

Analyst Ratings Changes

JOBY has been the topic of a number of research analyst reports. Weiss Ratings cut Joby Aviation from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, May 4th. Needham & Company LLC reiterated a “buy” rating and set a $18.00 price target on shares of Joby Aviation in a research note on Wednesday, May 6th. Morgan Stanley lowered their price objective on shares of Joby Aviation from $15.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 6th. Canaccord Genuity Group reduced their target price on shares of Joby Aviation from $15.50 to $11.50 and set a “hold” rating for the company in a report on Thursday, May 7th. Finally, Wall Street Zen upgraded shares of Joby Aviation from a “strong sell” rating to a “sell” rating in a research note on Sunday, May 10th. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Reduce” and an average price target of $13.64.

Joby Aviation Company Profile

Joby Aviation Inc is an aerospace company focused on developing electric vertical takeoff and landing (eVTOL) aircraft for urban air mobility. The company’s core mission is to provide zero-emission aerial ridesharing services, combining the speed of helicopters with the cost efficiency and environmental benefits of electric propulsion. Joby’s eVTOL design emphasizes low noise profiles and high reliability, positioning the company to address congestion challenges in major metropolitan areas.

The company’s flagship aircraft is designed to carry a pilot and up to four passengers, offering point-to-point travel at speeds competitive with ground transportation.